Hiscox News

Hiscox CEO Supports Industry-Wide Stress Test for 9/11-Scale Event

UK regulators need to widen stress tests for insurers to show how the whole industry, including themselves, would respond to an event on the scale of the 9/11 attacks, Hiscox Ltd. said. Unless the Prudential Regulation Authority, or PRA, can …

Hiscox Delivers H1 Pre-Tax Profit of £135.1M, Up From £124.6M in H1 2014

Hiscox, the Bermuda-based specialist insurer, delivered a pre-tax profit of £135.1 million* ($205.2 million) in the first half ending June 30, 2015, compared with £124.6 million ($189.3 million) during the same period in 2014. Gross written premiums for the six-month …

Hiscox Strengthens UK Motor Offering with Purchase of RH Specialist Insurance

Bermuda-based specialist insurer Hiscox announced it has reached an agreement with Willis to acquire its specialist UK classic car business, RH Specialist Insurance. This acquisition complements Hiscox’s existing expertise in the motor market, having offered specialist and classic car insurance …

Aon Benfield Analytics Releases Lloyd’s Update; 2014 Performance Examined

Aon Benfield Analytics’ Market Analysis team has released its latest Lloyd’s Update report, which assesses the market’s 2014 financial performance and latest developments. Key findings in the report include: The Lloyd’s market began 2015 with 92 active syndicates and slightly reduced underwriting …

Hiscox Appoints Worth as Interim CFO

Bermuda-based Hiscox announced that John Worth will join the company on June 22, and, subject to regulatory approval, will be appointed interim chief financial officer with effect from September 1, 2015. Worth’s appointment is designed to provide continuity in oversight …

V3 Launches Community Association Package Program

V3 Insurance Partners LLC has launched V3 CAPP+, a new package program for condominium & homeowner associations, cooperative apartments and office condominium associations. V3 CAPP+ is backed by Hiscox Insurance Co., Inc. The multi-line policy is designed to cover the …

Hiscox Reports 12% Hike in Gross Written Premiums on Good Claims Experience

Bermuda-based Hiscox Ltd., the international specialist insurer, reported gross written premiums increased by 12 percent to £561.7 million ($869.6 million), compared to £501.6 million ($776.6 million) reported during the first quarter of 2014. Bronek Masojada, chief executive, commented: “It’s been …

Hiscox London Market Launches Stand-Alone Threat Product

Specialist global insurer Hiscox has launched a stand-alone Threat product designed to protect businesses against the loss of revenue suffered as a result of a threat or hoax. The Hiscox Threat policy provides non-physical damage business interruption (BI) cover as …

A.M. Best: European Reinsurers Report Strong Results, Growth Limited

Major European reinsurers have posted very strong full-year results for 2014 and continue to be well capitalized, with profitable underwriting results due to the absence of sizable natural catastrophes and ongoing reserve releases. Nevertheless, reinsurers face challenges as soft market …

Amlin, Hiscox Say They Plan to Remain Independent Amid Flurry of M&As

Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …